Tech West England Advocates, a branch of grassroots entrepreneur community Global Tech Advocates, is calling on founders and investors to join its trade mission to Hong Kong later this year and explore opportunities within its tech ecosystem. The group is calling on tech founders and investors from West England and across the UK to join ... Read more ›
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Challenger and specialist banks have surpassed high street banks for smaller business lending, with new data showing they accounted for 55% of the SME market in 2022. According to the state-owned British Business Bank, challenger and specialist banks provided a record £35.5bn compared to the £29.6bn deployed by traditional UK banks. “Today’s report finds strong ... Read more ›
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The foreign secretary is creating the first tech envoy to the Indo-Pacific region to champion the UK’s tech and science sectors. The tech envoy, who is yet to be appointed, will work in the region to collaborate on “setting global technology standards and helping to solve challenges through innovative technology”. Foreign Secretary James Cleverly said: ... Read more ›
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London-based fintech Thought Machine has announced a major hiring plan, with the unicorn company looking to grow its global headcount by 23%. Thought Machine is a software firm that specialises in cloud-based banking tech. The company offers its cloud software to various financial institutions. The fintech hit a £2.2bn valuation in May 2022 after an ... Read more ›
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Hectare, a startup operating in the sustainable food supply-chain space, has raised $20m (£16.5m) in its Series A funding round. Founded in 2015, Hectare offers a software-as-a-service (SaaS) product that provides insights into inventory, trading, logistics, and the sustainable food market to farming businesses. “The toughest challenges to solve are often the ones you can’t ... Read more ›
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British fintech company Revolut has reported its first full year of profit, with its overdue 2021 accounts showing that revenues tripled as it continues to push for a full UK banking licence. The company swung into a profit of £26.3m for the year on revenues of £636m, up from £220m in the year prior. Revolut ... Read more ›
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The North East of England is known for the natural beauty of its coastline, historical sites such as Durham Cathedral and Hadrian’s Wall, along with lively nightlife in cities like Newcastle. The region is also carving out a reputation as a fast-growing and vibrant hub for technology businesses in the UK. Data collected by credit ... Read more ›
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I was just as perplexed as others within the wider tech ecosystem by the government’s decision to strip Tech Nation of the £12m Digital Growth Grant and award it to Barclays Eagle Labs. For a government that recently reiterated its desire to become the “next Silicon Valley”, withdrawing funding from Tech Nation shows its approach ... Read more ›
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A UK entrepreneur group has called on the government to make improvements to the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS) to better support tech startups. A report, released today by the All-Party Parliamentary Group for Entrepreneurship, said that SEIS and EIS – two initiatives that provide tax breaks to encourage ... Read more ›
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The UK Space Agency has unveiled a £51m funding package for space tech companies to create communication and navigation services for Moon missions. The funding package comes from the European Space Agency’s Moonlight programme, which aims to have a constellation of satellites in lunar orbit from 2028. George Freeman, minister of state, Department for Science, ... Read more ›
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London-based generative AI startup Colossyan, which turns text prompts into training videos, has raised $5m (£4.1m) in a Series A funding round. The startup uses generative AI – a subset of artificial intelligence that creates new content based on large amounts of training data – as a way for companies to quickly produce training videos. ... Read more ›
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A new finance and innovation centre is launching in Leeds today to support the UK’s booming fintech industry and identify challenges that might hinder growth. The Centre for Finance, Innovation and Technology (CFIT) has been formed in response to a direct recommendation by the Kalifa Review of UK Fintech, which looked at how the country ... Read more ›
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Scottish asset manager Abrdn has revealed a disappointing 2022 in its most recent financial results for what CEO Stephen Bird described as “one of the toughest investing years in living memory”. The firm posted a pre-tax loss of £615m, far below the £1.1bn profit enjoyed by the asset manager the year prior. The results also ... Read more ›
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The UK tech sector is crying out for talent. The current tech talent shortage has been exacerbated by a wider backdrop of economic inactivity and warnings of some of the lowest rates of overall workforce participation in almost 30 years. To unlock the potential of the country’s digital and tech sector, and support wider economic ... Read more ›
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Telecoms startup Devyce has received backing from Y Combinator in a seed funding round after participating in its accelerator cohort last summer. The London-headquartered company provides virtual phone numbers to individuals and businesses using WiFi or mobile internet. “Businesses are continually up against it to find cost efficiencies, while creating more hybrid working environments for ... Read more ›
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Most CEOs only have to worry about defending their company from competitors. For the past year Volodymyr Levykin, the CEO and founder of British rocket company Skyrora, has carried the weight of some of his staff defending their home country from invasion. One year on from Russia’s invasion of Ukraine, Levykin, a Ukrainian-born tech entrepreneur, ... Read more ›
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Cordless, an AI startup that has built a platform to analyse customer feedback for support teams, has raised $2.3m (£1.9m). Founded by two ex-Monzo employees, Cordless was inspired by their experiences handling customer support at the challenger bank. Working as the head of scaling operations and a technical lead, Luba Chudnovets and Irina Bednova found ... Read more ›
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London-based Flock, a company using real-time data to provide insurance to commercial motor fleets, has raised £31.7m ($38m) in Series B capital despite a challenging funding environment for insurtech startups. Founded by Antton Peña and Ed Leon Klinger in 2015, Flock was born out of academic research into insuring the commercial drone industry before pivoting ... Read more ›
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Drug discovery company Five Alarm Bio has completed a seed investment round of more than £500,000 as it continues to explore anti-ageing treatments. The Cambridge-based firm is looking to boost humanity’s resistance to age-related conditions, including arthritis, sarcopenia, and Alzheimer’s disease, among others. The company will use the new funding to continue developing its cell ... Read more ›
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Robin AI, a startup bringing generative AI to the legal sector, has secured $10.5m (£8.8m) in a Series A funding round. Riding the wave of generative AI investments spurred by the excitement around tools like ChatGPT, Robin has secured backing from lead investor Plural. It also attracted capital from fellow investors Episode 1, and an ... Read more ›
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15.06.2026 03:55
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